Revenue Growth
Net revenue for Q1 FY2026 was $29.0M, an 11% increase from $26.2M in Q1 FY2025, driven by expansion across dealer and chain-store channels.
Retail & Dealer Expansion
Retail footprint expanded meaningfully: entered 2025 with ~200 chain stores (700 total) and entered 2026 with ~900 chain stores (1.5k total); company targets ~2k total locations by year-end 2026. New retail partnerships include an initial ~50-store rollout with Academy Sports (targeting ~200–250 by year-end) and initial Murdoch’s rollout (14 stores Q2, target ~30 by year-end). Premier dealers grew ~60% YoY in Q1 and the top 20 dealers grew ~55% YoY.
Strong In-Store Product Performance (CL/CLXL)
When customers engage in-store, the CL platform performs strongly: in company-owned retail in March the combined CL and CLXL comprised ~80% of launcher sales; CL represented roughly 40% of total unit sales for the quarter and is contributing to a mix shift toward higher-margin products.
Improving Retail Merchandising Impact
Early merchandising initiatives show outsized returns: one retail partner reported ~164% same-store sales increase in Q1 YoY and ~92% increase in March; stores with dedicated shooting experiences generate roughly 3x the sales of non–shooting-experience stores.
Digital Education Tool Driving Better Conversion
New 'Find the Right Launcher' experience has generated over 30,000 completions and is converting at roughly 2x the overall site rate, providing richer customer data and a near-term lever to improve online conversion and AOV.
Gross Margin & Manufacturing Initiatives
Gross profit for Q1 was $17.4M (60% margin). Company expects gross-margin expansion in back half of year from product mix (CL growth), modest late-Q1 price increases, and manufacturing efficiencies, including lean initiatives, reduced build rate/headcount, and a next-gen modular platform targeted for 2027 to lower costs.
Focus on Profitable Growth and Working Capital
Management emphasized disciplined capital allocation, targeting profitable growth, inventory reduction (inventory at $33.1M) and improved inventory turns, and set a free-cash-flow objective (management expects free cash flow in the 'mid-teens' for the year).